A widely-followed crypto analyst is looking at Bitcoin (BTC) against the US Dollar Index (DXY) while waiting for two popular altcoins to drop in price.
In a new tweet, Michaël van de Poppe tells his 588,800 followers that BTC needs to break through $40,000 to continue moving up.
“To me, this is still the area to break on Bitcoin.
If this block breaks and flips, I think $43K is next.
Dollar is close to topping out as well.”
Speaking of the dollar, Van de Poppe then looks at the DXY chart to predict an upswing in Bitcoin’s near future.
“Let’s reverse the DXY and then Bitcoin is going to do really well.”
The trader also evaluates the Bored Ape Yacht Club altcoin ApeCoin (APE), which has been going bananas ever since it dropped last month. Van de Poppe says he’s waiting for a downswing on the monkey coin before he apes in.
“Well, APE didn’t give the entry that I wanted, but it’s at take profit region. If it drops back to $18.40 or $19.30, I’m still heavily interested in this one.”
Van de Poppe is also waiting for a price drop on Ethereum (ETH) rival Fantom (FTM) before he buys in.
“Still waiting for this level on FTM.”
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